Nissan plans to invest an extra $1.4 billion in China by 2026 as it launches 10 new energy vehicles, aiming to recover from declining sales and catch up with faster-moving local competitors.
Nissan Motor will invest an additional 10 billion yuan ($1.4 billion) in its China operations by the end of 2026, according to Stephen Ma, the automaker’s China chief. Speaking at the Shanghai auto show, Ma outlined the company’s strategy to reverse its recent decline in sales, including the launch of around 10 new vehicles in the coming years.
Acknowledging Nissan's slow response to the rapidly evolving Chinese market, Ma praised the agility of local competitors. "The Chinese brands were too fast, to be honest. They were exceptional in how fast they moved," he said during a roundtable interview.
Nissan sold fewer than 700,000 vehicles in China in 2024, down more than 50% compared to four years earlier. The weak performance in its second-largest market forced the company to lower its global sales forecast for the fiscal year that ended in March.
To boost its competitiveness, Nissan presented several new models at the Shanghai event. Among them were its first plug-in hybrid, the Frontier Pro pickup, and the production version of the N7, a battery electric sedan developed with local partner Dongfeng, which is set to go on sale this month.
The automaker also revised its target for new energy vehicles in China, raising it to 10 models by the summer of 2027, up from a previous goal of eight by the end of 2025. “We were always being criticised for being late to the plug-in hybrid trend, but now we have the first one. And we wanted to do something special with it,” Ma said.
The success of Nissan’s turnaround, Ma noted, will ultimately be reflected in sales and share performance. He added that the company’s new CEO, Ivan Espinosa, who replaced Makoto Uchida in March, has placed strong emphasis on rapid execution. “He for sure put a huge objective on me: fast, fast, fast, fast,” Ma said.
Espinosa was not present at the show, while Uchida, who remains on Nissan’s board until June, joined Ma for a private meeting at the company’s booth.
Shanghai braced for a double threat on Wednesday as tropical storm Co-May made landfall and a powerful earthquake off Russia's coast triggered tsunami...
Meta announced it will halt political, electoral, and social issue ads in the EU from October due to the region's new Transparency and Targeting of Po...
U.S. President Donald Trump said on Tuesday he may not attend November’s G20 summit in South Africa, citing longstanding disagreements with Pretoria...
The Environmental Protection Agency has moved to erase the foundation of America’s climate regulations. On Tuesday, it unveiled a proposal to rescin...
The U.S. Geological Survey said the shallow quake struck at a depth of 19.3 km (12 miles), 119 km east-southeast of Petropavlovsk-Kamchatsky, a city o...
Nissan Motor announced major cost-cutting measures, including the elimination of 11,000 additional jobs and reduced production, as the automaker faces declining profits and tough market conditions.
Nissan Motor Co. is reportedly considering a production shift that would see some U.S.-bound vehicles manufactured domestically in the United States as early as this summer, according to a Nikkei report on Saturday.
Nissan is set to unveil a major shake-up in its top management next month as part of an accelerated turnaround plan, sources familiar with the matter said on Thursday.
Nissan Motor Co. (7201.T) and Honda Motor Co. (7267.T) have formally ended discussions on a potential merger, a deal that would have created a $60 billion automotive giant. Despite this decision, both automakers confirmed they will continue to collaborate on electric vehicle (EV) technology.
The world’s biggest dance music festival faces an unexpected setback as a fire destroys its main stage, prompting a last-minute response from organisers determined to keep the party alive in Boom, Belgium.
Australian researchers have created a groundbreaking “biological AI” platform that could revolutionise drug discovery by rapidly evolving molecules within mammalian cells.
Australian researchers have pioneered a low-cost and scalable plasma-based method to produce ammonia gas directly from air, offering a green alternative to the traditional fossil fuel-dependent Haber-Bosch process.
A series of earthquakes have struck Guatemala on Tuesday afternoon, leading authorities to advise residents to evacuate from buildings as a precaution against possible aftershocks.
'Superman' continued to dominate the summer box office, pulling in another $57.25 million in its second weekend, as theatres welcome a wave of blockbuster competition following a challenging few years for the film industry.
Spotify projected third-quarter profit below market expectations on Tuesday, citing increased tax expenses linked to employee compensation, despite strong demand for its premium subscription services.
Microsoft is reportedly in advanced negotiations to revise its agreement with OpenAI, aiming to maintain access to the startup’s cutting-edge AI technology even if OpenAI achieves artificial general intelligence (AGI), according to Bloomberg News, which cited sources familiar with the matter.
Türkiye is pressing Iraq to include a clause in a new energy deal that guarantees full utilization of the Kirkuk-Ceyhan oil pipeline, which has remained idle since 2023 due to legal disputes.
European automakers including BMW and Mercedes-Benz are set to gain €4 billion from a new EU-U.S. trade agreement that lowers tariffs on vehicle exports. The move offers relief in a key market but still leaves duties higher than pre-2024 levels.
Oil prices rose on Monday after the United States clinched a trade deal with the European Union and may extend a tariff pause with China, relieving concerns that higher levies could have hurt economic activity and limited fuel demand.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment